Europe gets less oil Russians

- Russia is increasingly diverting its oil exports to Europe to China. The big refining companies got 19% less crude oil this year than last year.

The transports via the Baltic and Black Sea have been shifted to pipeline transport of crude oil to China, reports data processor Bloomberg on the basis of counts from January this year. Europe has recently extended its sanctions against Russia.

Oil transport to China increased by 43% in the first three months compared to the same months last year.

Advisor in the energy markets Wood McKenzie sees that European oil traders are looking for a replacement for this type of oil. There is no region that imports so much gas and oil from Russia as Europe.

It is expected that European refining companies will attract old contacts with the Middle East. That suffers from overproduction of crude oil.

These Opec countries lose sales opportunities after the Chinese have more often opted for Russian raw materials via the fixed pipeline network between the two countries.

Meanwhile, the American suppliers are full on the production pedal. This summer they are aiming the Saudi's as the most important oil exporter in the world.

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